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Anand Rathi Report
Shrinking cement prices and demand continued in the rain-hit month, August, a normal trend. Further, rising Covid-19 cases, unavailable labour and partial lockdowns persisted.
Our channel checks show most regions except East maintained high cement price level (Rs 340-350/bag) with a fall of approximately Rs 10/bag whereas in East, prices fell by Rs 20/bag.
Some prices in cities, however, rose, especially in the West (Surat). The Index of Industrial Production (IIP) data show July 2020 industry volume was down 13.7% YoY.
Further, our channel check show demand slumped 10-35% in August 2020.
Dealers expect demand to rise post Diwali (returning labour on the monsoon behind and construction sites restarting).
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